Reuters: CIT Explored Possible Sale

Reuters reported that CIT had preliminary talks over the past year and a half to sell itself to banks, including Toronto-Dominion Bank and Wells Fargo, but nothing came of the conversations, citing three people familiar with CIT.

The report noted that Goldman Sachs bankers have had informal talks on behalf of CIT with a number of banks, but the firm has not been formally retained as an adviser, citing two of the people.